A toast to the successful listing of Parkson Asia Limited on the Singapore Stock Exchange.
On 3 November 2011, Parkson Retail Asia Limited (PRA) made its debut on the Singapore Stock Exchange (SGX) at S$1.05 a share, 12% above its initial public offer price of S$0.94.
PRA’s offer of 147 million shares was 1.1 times oversubscribed, with 136.2 million shares sold in an international placement and 10.9 million sold in a public offer. The offer also featured a 15% over allotment option, all of which was allocated to the placement.
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Mr Gan Seow Ann, President of Singapore Stock Exchange (left) presenting a souvenir to Tan Sri William Cheng.
At the SGX listing ceremony, our Group Chairman and CEO who is also PRA Non-Executive Chairman, Tan Sri William Cheng, in his speech said, “The Parkson name is well-known and we have developed a well-established store network with an efficient and highly competitive business model. I am confident that Parkson will continue to succeed in achieving all of our growth targets. We will continue to focus on productivity, and will continue to enter countries with a strong growth potential”.
The proceeds of the IPO will be used to open new stores in Malaysia, Indonesia, Vietnam and Cambodia as well as for IT investment and maintenance capital expenditure. |